Mortgage Affordability Analyser

Strategic Lending · Smarter Debt · Lasting Wealth
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Income
Applicant type
Left is single, right is couple. This sets whether your Medicare levy is worked out on single or family thresholds, and reveals a second income. Your income tax is always worked out per person.
You
Your Gross Annual Income (excluding superannuation)
$
$0$3M
Number of dependent children
Lenders assume higher living costs for each dependent child, which lowers borrowing capacity. Each child raises the assumed household expenses used in the capacity estimate.
Project a future income increase?
Mortgage Details (Home Loan)
Loan Amount
$
$100k$8M
Interest Rate 5.99%
%
1%12%
Loan Term
Repayment Type
Offset Account Balance
$
$0$1M
On a principal and interest loan, your offset does not lower your contracted repayment, so it does not change your monthly cashflow or serviceability; it reduces the interest you are charged and helps you pay the loan off sooner. On an interest-only loan, your offset does lower the interest charged, so it reduces your repayment and cashflow directly. Either way it is also shown as your "months buffer", how long your offset alone could cover repayments and living costs.
Model a lump sum principal reduction?
Monthly Living Expenses
Enter a single total amount
Groceries & Food
$
Transport
$
Utilities & Bills
$
Insurance
$
Childcare / Education
$
Entertainment
$
Subscriptions
$
Other
$
Private school fees (per year)
$
Enter the annual amount. The tool converts it to a monthly figure and includes it in your Total Living Costs. The benchmark lenders use excludes school fees, so they are counted on top of the general living-expense floor.
Existing Liabilities
These reduce your assessed borrowing capacity. Credit cards are assessed at 3.8% of the limit per month regardless of balance, which is the current lender servicing figure. A limit reduces borrowing power by roughly five times the limit, so a $20,000 limit costs you around $80,000 in borrowing capacity even if you never use it.
Credit Card Limit (total across all cards) $0
$
$0$100k
Monthly assessment: $0 (3.8% of limit)
HECS / HELP debt?
Other Existing Loans (monthly repayments)
$
Assessed with a buffer: $0/month. Lenders do not take an existing repayment at face value; they load it by about 25% to allow for rate rises. This field is for straightforward loans such as a car loan. Personal and unsecured debts attract higher sensitivity and reduce capacity further, and multiple property or business debts are not modelled here. For those, please contact Charter Finance for a full assessment.
Enter your details to see your results
Add at least your gross annual income and the loan amount you have in mind. Your after-tax income, monthly repayment, serviceability health and borrowing capacity will appear here.